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    SK Audits: Fast, strategic Invoice Finance audits with one-click data standardization

    SK Audits, the invoice finance auditing specialists, partners with Validis to transform their audit process. By leveraging Validis’ accounting data extraction and standardization tool, SK Audits can deliver more strategic, insightful audits while significantly reducing the burden on clients.

    0%

    reduction in data preparation time

    0x

    more time focused on strategic analysis

    0 days

    onsite to audit 7 companies, previously impossible

    "Validis gives me the confidence to tackle audits of any size or complexity. With audit-ready data at the click of a button, I can access accurate, comprehensive information, allowing me to focus on what really matters - understanding the business, its people, and its financial health."

    Steve Kilby, Founder, SK Audits

    The Goal

    Streamline data collection, ensure audit quality, reduce time on-site and time-burden for clients to ultimately give us the competitive edge.

    The Idea

    Leverage Validis' capabilities to get audit-ready data, that's right-the-first-time, leaving more time for in-depth analysis and strategic insights.

    The impact we made

    When Steve Kilby founded SK Audits, he knew that technology would be key to delivering superior auditing services. Having previously experienced the benefits of Validis, Steve didn’t hesitate to make it a cornerstone of his new venture. As Steve recalls:

    “I didn’t even shop around. I knew Validis could give me the edge I needed in this competitive field.”

    The impact was immediate and transformative. Tasks that once took hours were reduced to the click of a button, providing audit-ready data that was right-the-first-time. For a recent seven-company audit, Steve spent just 3 days on-site, having analyzed accounts receivable trends beforehand. This efficiency allowed Steve to engage in deeper conversations with clients, gaining valuable insights into business operations, audit trails, and credit control practices. As a result, Steve was able to deliver a more comprehensive audit to the invoice finance lender, grounded in a real understanding of each business. Steve explains:

    “Before Validis, I’d spend hours crunching numbers and pulling reports, often finding discrepancies that required painstaking review.

    Now, I get standardized, audit-ready data at the click of a button. It’s done in seconds, and I know it’s right-the-first-time. This frees me up to focus on what really matters – understanding the people, the debt structure, and the financial nuances of the business.”

    The standardized, high-quality data provided by Validis has been a game-changer for SK Audits. The exceptional granularity of the data allows Steve to dive deep into financial records, uncovering insights that might have been missed with traditional methods. Steve notes:

    “The level of detail and consistency in the data is remarkable.

    With Validis, I can produce 12-month statistics of a client instantly, drill down into specific months for details, and perform dilution or credit note tests more easily. It allows me to spot trends and anomalies quickly, making my sampling more strategic and my analysis more robust.”

    This shift has not only improved the efficiency of SK Audits but has also enhanced the value they provide to clients. With more time for strategic analysis, Steve can now offer deeper insights and more targeted recommendations.

    “The confidence and comfort it gives the business, knowing that they don’t have to invest as much time as they would probably expect to invest on the day, that’s a real asset.”

    The benefits extend to SK Audits’ clients as well. The streamlined data collection process means less disruption to their day-to-day operations. To alleviating their audit anxieties, Steve tells his clients:

    “You don’t need to worry about getting all your financial documents together on the day.

    Half of what I’m going to ask you for, you can quickly share with me beforehand. Just click this one link and put in your passwords. And you’re done in minutes.”

    Tangible outcomes

    • Simple implementation: Implementation was seamless, with Validis integrating smoothly into SK Audits’ workflow, providing audit-ready data at the click-of-a-button.
    • Gold standard quality data: Access to complete, standardized data sets ensures exceptional accuracy and comprehensiveness in every audit, eliminating the frustration of mismatched numbers and repeated data sifting.
    • Focus on adding value: With routine data tasks automated, and the assurance of right-the-first-time data , the team dedicates more time to strategic analysis, boosting overall productivity and client value.
    • Market competitiveness: The use of cutting-edge technology like Validis, allows SK Audits to compete effectively with larger firms, delivering superior service and insights to clients of all sizes.
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